ITC on CSR activities
company cannot claim Input Tax Credit (ITC) on CSR activities as CSR activity expenses are not allowable in Incometax.
Hence ITC cannot be claimed.
(Polycab wires pvt.ltd
2019 24 GSTL 103 AAR KAR)
Generating E-Invoice for B2B supply
Attention GST Taxpayers whose aggregate turnover exceeds Rs.50 crore in a Financial Year! Generating E-Invoice for B2B supply of Goods or Services or both is mandatory w.e.f April 01, 2021.
GST Annual Return FY 2018-19
CBIC has issued 5 notifications dated 5th May 2020 compiled summary below
- Notification No. 38/2020 | NIL Return Via SMS & OTP/ EVC for Company.
- Notification No. 39/2020 | Company under Insolvency.
- Notification No. 40/2020 | Validity of E-Way Bill.
- Notification No. 41/2020 | Annual Return and Audit Extension for FY 2018-19.
- Notification No. 42/2020 | GSTR-3B | Jammu and Kashmir & Ladakh.
GST PMT 09
Important Update on GST Portal
File FORM GST PMT 09, to transfer/shift the money available in Electronic Cash ledger, between various major and minor heads of GST.
https://www.gst.gov.in/newsandupdates/read/375
GST Update – PMT 09
Form PMT – 09 is available on GST portal. Now, taxpayer can transfer the cash balance available under one head to another head of tax i.e. from CGST to SGST or interest or penalty or vice versa.
